Michigan Online Sportsbooks Take A Slight Dip In June

While total handle fell by a percentage point, it's worth noting June is a tough month for the books
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Michigan’s online sportsbooks took in a shade over $235 million in handle for the month of June, a slight decrease from May’s $237.6 million, but this was not wholly unexpected with June (and July and August) being notoriously slow months for sportsbooks.

Of course, it didn’t help that the Tigers continued to scuffle and the Pistons and Red Wings didn’t sniff the playoffs.

When it comes to the individual operators, FanDuel took a leap forward for the month, booking $77.3 million in bets (up from $71 million in May). Nearly one out of every three dollars wagered online in Michigan in June went through FanDuel.

In second place was DraftKings, with $56.5 million in handle, and BetMGM finished a strong third, with $52 million. All told, the big three in Michigan were responsible for 79% of the total handle for the month.

Barstool held fourth place in the sportsbook wars, at $16.7 million. This marked the fourth consecutive month of falling handle for the Penn National concern.

Best of the rest

PointsBet finished fifth, with $10.2 million. In sixth place was William Hill at $7.9 million. Seventh place was a soaring WynnBet, with a handle of $5.4 million (up from $1.4 million in May). Rounding out the list were FOX Bet with $3.7 million; BetRivers at $2.5 million; TwinSpires at $1.3 million; Golden Nugget at $914,393; Four Winds at $607,100; and Firekeepers — which just launched at the end of the month — with (ahem) $656.

Total gross receipts for the month of June came in just under $25 million, for a healthy hold of 10.6%. Even with promotional play taken out, adjusted gross receipts still came in at over $16.7 million.

Total taxes in June amounted to $927,575.

As far as individual sportsbooks go, eight of the 13 sportsbooks booked a profit in June after promotional play, with FanDuel being the big winner, with over $8.1 million in adjusted gross receipts. 

WynnBet, which saw its handle soar, was clearly in a giving mood for the month, as its adjusted gross betting receipts came in at a loss of over $464,000.

Year-to-date — and keeping in mind 2021 didn’t start until Jan. 22, as that was launch day for the sportsbooks — the total handle stands a tick under $1.5 billion, with over $40 million in adjusted gross receipts and total tax bill of $2.65 million.

Photo: Shutterstock

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